Shares of Deliveroo, the food delivery service based in London, are hitting three-year highs after it received a $3.6 billion proposed takeover offer from DoorDash.

The food-delivery company said it received a $3.59 billion takeover approach that it would be prepared to recommend to shareholders, if a formal offer were made.

British meal delivery company Deliveroo said on Friday it received a proposal from U.S. peer DoorDash on April 5 to buy all of its shares for 2.7 billion pounds ($3.60 billion).